NTPC NEWS

NTPC Ltd, India’s largest power generator, plans to partner with National Investment and Infrastructure Fund (NIIF), the country’s quasi-sovereign wealth fund, and Oil and Natural Gas Corporation (ONGC) to acquire and develop green energy assets, including offshore wind projects. The plans were contained in a letter to shareholders by NTPC chairman and managing director Gurdeep Singh in the company’s annual report for FY21. “Further, efforts are on for partnering with NIIF and ONGC for exploring opportunities in acquisitions and development of renewable assets, including offshore wind," Singh said in his letter.

NTPC Southern Region is likely to commission about 217 MW floating solar capacity, including one of the largest floating solar power plants of 100 MW at Ramagundam, by May-June this year, a senior official said on Wednesday. During a virtual press conference here,NTPC Regional Executive Director (South) C V Anand said:"100 MW at Ramagundam, 25 MW at Simhadri, Visakhapatnam, 92 MW at Kayamkulam, Kerala.

State owned NTPC on Tuesday said it has signed a share purchase agreement to buy GAIL 25.51 per cent stake in Ratnagiri Gas and Power Pvt Ltd. After that NTPC would have 86.49 percent stake in RGPPL. The transfer of shares, NTPC will exit KLL, and NTPC shareholding stand at 86.49 percent. RGPPL own a integrated Power generation and re-gasified LNG facility.

The demerger scheme for Ratnagiri Gas and Power and Konkan LNG has been approved by the National Company Law Appellate Tribunal (NCLAT). The ‘Long Stop Date’ for the demerger of companies has been extended to March 31, 2018. Ratnagiri Gas was incorporated with the aim to take over and revamp the assets of Dabhol Power Company Project. The demerging is expected to expand the business growth prospects.